Automotive News Chinahttp://www.autonewschina.com
Automotive News China2019-3-21 23:15:09Volkswagen Group¡¯s China deliveries declined for the seventh straight month in February, dropping 7.4 percent from a year earlier to 234,400. The company¡¯s results were dragged down by the Skoda and VW mass-market brands. ]]>http://www.autonewschina.com/en/articles.asp?id=18797
SHANGHAI -- BMW AG and Mercedes-Benz said they will lower prices in China after the government announced it will reduce the country's value-added tax starting on April 1. The German automakers each published posts on Chinese social media announcing immediate price cuts for several models. The discounts come as China endures a shrinking market for automobiles as the economy slows.]]>http://www.autonewschina.com/en/articles.asp?id=18801
BYD Co.¡¯s sales rose 2.1 percent to 26,833 in February as robust demand for electrified vehicles more than offset an ongoing sharp decline in gasoline-powered car and light-truck deliveries. BYD delivered 14,429 plug-in hybrids and electric vehicles last month, a surge of 72 percent, according to company filings. ]]>http://www.autonewschina.com/en/articles.asp?id=18798
SAIC Motor Corp. expressed disappointment over comments Volkswagen Group CEO Herbert Diess made last week on the possibility of increasing the German automaker's stakes shares in China-based joint ventures. It is "regrettable" that VW unilaterally commented on important matters regarding shares in its joint ventures in China without consulting local partners, SAIC said in a statement Monday.]]>http://www.autonewschina.com/en/articles.asp?id=18799
Infiniti said the exit from western Europe, where import luxury brands continue to struggle, will allow it to focus on an initiative to electrify a good portion of its product portfolio, a top priority for automakers in China. Infiniti will also dedicate more resources to its SUV lineup in North America and bring five new or significantly redesigned vehicles to China over the next five years.]]>http://www.autonewschina.com/en/articles.asp?id=18802
Inventories at dealerships across China surged to a 63-day supply in February from 42 days a month earlier, as new-vehicle purchases slowed during the weeklong Chinese New Year holiday. The backlog at dealerships marketing domestically built foreign mass-market brands jumped to 67 days from 41 days in January. ]]>http://www.autonewschina.com/en/articles.asp?id=18800
China plans to approve new rules for foreign investment in the country this week, a sweeping overhaul of regulations that will affect corporate titans from Ford to Alibaba and Tencent. Key pillars of the new law will remove a major threat to investors in China¡¯s massive technology sector, while putting thousands of overseas companies on notice they may need to renegotiate joint ventures in China.]]>http://www.autonewschina.com/en/articles.asp?id=18784
Changan Ford Automobile Co., Ford¡¯s passenger vehicle partnership in China, continues to suffer from falling sales. After plunging 70 percent in January, Changan Ford¡¯s sales plummeted 81 percent to 6,799 in February, according to its Chinese shareholder, Changan Automobile Co. ]]>http://www.autonewschina.com/en/articles.asp?id=18782
BEIJING -- China's customs authority lifted a suspension on imports of Tesla's Model 3, an official in the authority's news department said Thursday. "We can confirm that the warning notice on Tesla has been canceled," said the official, who only gave his surname as Tao.]]>http://www.autonewschina.com/en/articles.asp?id=18783
INGOLSTADT, Germany -- Audi is reviewing whether to raise its stake in its Chinese joint ventures, the premium brand's China chief, Alexander Seitz, said on Thursday. China, as part of broader market reforms initiated in 2018, has relaxed restrictions on how much foreign automakers can invest in Chinese joint ventures. ]]>http://www.autonewschina.com/en/articles.asp?id=18781
SAIC-GM will introduce nine locally built plug-in hybrid and electric vehicles in China from 2019 to 2023 to meet regulatory requirements that seek to reduce emissions. The vehicles are part of 60 new and freshened models SAIC-GM plans to launch in China during the period. ]]>http://www.autonewschina.com/en/articles.asp?id=18786
General Motors is losing market share in China, with its two local joint ventures posting steeper sales declines last month. Deliveries at SAIC-GM, GM¡¯s passenger vehicle joint venture with SAIC Motor Corp., slumped 21 percent to 97,177 in February while sales at SAIC-GM-Wuling, GM's light-vehicle partnership with SAIC, dropped 36 percent to 99,012.]]>http://www.autonewschina.com/en/articles.asp?id=18785
SHANGHAI -- Over the past decade, Chinese carmakers¡¯ exports to emerging markets have thinned to a trickle after key regions such as Russia, Brazil, North Africa and the Middle East encountered economic or social instability. Now equipped with better technology and a new generation of products, Chinese car brands are regrouping to expand overseas by targeting Europe and a select group of major emerging markets. Pictured: Yang Jian is managing editor of Automotive News China. ]]>http://www.autonewschina.com/en/articles.asp?id=18780
Audi and BMW Group posted sales gains last month, when overall industry volume dipped amid weaker demand during the Chinese New Year holiday, but Mercedes-Benz volume dipped. ]]>http://www.autonewschina.com/en/articles.asp?id=18787
Volvo Cars will pay a
dividend of 2.0 billion yuan (2.9 billion Swedish crowns and $311 million) after
record sales in 2018, with almost
all of it slated to boost the coffers of its debt-laden Chinese
parent, Geely Automobiles.]]>http://www.autonewschina.com/en/articles.asp?id=18789
Tesla Inc. is in talks about ordering rechargeable batteries from Contemporary Amperex Technology Co. to power Model 3 cars the U.S. electric-car maker plans to start assembling at its new factory near Shanghai, Bloomberg reported, citing people familiar with the matter.]]>http://www.autonewschina.com/en/articles.asp?id=18769
Sales at Geely Automobile Holdings, China¡¯s largest passenger vehicle maker, dropped 24 percent to 83,552 last month. The company blamed the results on the timing of the weeklong Chinese New Year holiday, which started Feb. 4. The holiday, which came earlier than last year, resulted in fewer working days in February, Geely said. ]]>http://www.autonewschina.com/en/articles.asp?id=18770
SEOUL -- Kia Motors may halt operations at its No.1 plant in China as part of long-term efforts to enhance competitiveness, a source familiar with the matter said. After the source spoke to Reuters, Kia Motors said in a statement that the company is reviewing various plans to strengthen production and sales operations in China.]]>http://www.autonewschina.com/en/articles.asp?id=18772
Tesla Inc. signed an agreement with lenders in China for a 12-month credit line of up to 3.5 billion yuan ($521 million) for the electric-car maker's Gigafactory in Shanghai. The loans from China Construction Bank Corp., Agricultural Bank of China, Industrial & Commercial Bank of China and Shanghai Pudong Development Bank Co. mature in March 2020, Tesla said in a regulatory filing.]]>http://www.autonewschina.com/en/articles.asp?id=18773
China¡¯s new light-vehicle sales contracted in February for the eighth consecutive month, falling 17 percent to fewer than 1.22 million cars and light trucks, amid slower economic growth. Domestic economic growth may slow to between 6 and 6.5 percent in 2019 from 6.6 percent in 2018, Chinese Premier Li Keqiang predicted at a national meeting in Beijing. ]]>http://www.autonewschina.com/en/articles.asp?id=18767
Sales at China¡¯s largest light-truck maker, Great Wall Motor Co., continued to pick up in February, advancing 18 percent to 69,037. The growth was led by the company¡¯s pickups and new compact crossover -- the Haval F7 -- that was launched in November.]]>http://www.autonewschina.com/en/articles.asp?id=18768
WM Motor, an electric vehicle startup founded by former Volvo Car Corp. China President Freeman Shen, has secured investment of 3 billion yuan ($446 million) from three domestic companies. VM Motor plans to use the capital for r&d and enhancing customer experience. ]]>http://www.autonewschina.com/en/articles.asp?id=18771
SHANGHAI -- China's customs authorities have accepted Tesla Inc.'s plan to remedy problems with the clearance of imported vehicles, a source familiar with the matter told Reuters. Caixin, a Chinese financial publication, reported earlier that authorities had suspended customs clearance for the electric carmaker's Model 3 sedan, citing various irregularities, including improper labeling of the vehicles.]]>http://www.autonewschina.com/en/articles.asp?id=18754
Automotive chipmaker Renesas Electronics Corp. plans to halt production at six plants in Japan for up to two months this year as it braces for a further slowdown in Chinese demand, a person briefed on the matter said. Production at four plants in China and Malaysia may also be temporarily suspended, depending on demand, the source said.]]>http://www.autonewschina.com/en/articles.asp?id=18752
Nio Inc., in another sign China¡¯s auto market is cooling, lowered its outlook for first-quarter deliveries and canceled plans to build a manufacturing plant in Shanghai. The latest guidance from the Chinese electric vehicle startup prompted at least one analyst to downgrade the company¡¯s stock. ]]>http://www.autonewschina.com/en/articles.asp?id=18755
SEOUL -- Hyundai Motor Co. is considering plans to suspend production at its oldest plant in China, the South Korean carmaker said, as it reels from tumbling sales and overcapacity in its biggest market. The move by Hyundai, which together with affiliate Kia Motors was the No.3 automaker in China until 2016, highlights the reversal of fortunes of China's auto industry, which suffered its first contraction in decades last year.]]>http://www.autonewschina.com/en/articles.asp?id=18751
Continental began operations this week at a new r&d center in the southwest China municipality of Chongqing. The 280 million yuan ($42 million) center is the German supplier¡¯s 18th in China. It will develop electronic parts including gateways, closure systems and control units for vehicle bodies and powertrains.]]>http://www.autonewschina.com/en/articles.asp?id=18749
Volvo¡¯s Polestar brand expects to launch its first battery-electric sedan in the U.S. by early summer 2020. International trade tensions, however, could tap the brakes on that rollout. The automaker would not sell the Polestar 2 in the U.S. if tariffs on exports from China continue to rise, Polestar CEO Thomas Ingenlath told the Financial Times during the Geneva auto show. ]]>http://www.autonewschina.com/en/articles.asp?id=18758
Nissan Motor Co. and Honda Motor Co. reported slight sales declines in China for last month. Nissan deliveries dipped 1.8 percent year on year to 76,745 while Honda sales slid 1.5 percent to 75,907. For the first two months, Nissan¡¯s deliveries edged down 1.2 percent to 210,679. Honda deliveries rose 4.5 percent to 212,390 for the two months combined, thanks to an 8.2 percent sales increase in January. ]]>http://www.autonewschina.com/en/articles.asp?id=18756
The Chinese government, in a major policy shift triggered in large part by pressure from the Trump administration, last year slashed vehicle import tariffs and started to allow foreign automakers to gain control of local joint ventures. Now with China¡¯s economy sputtering, Beijing might want to dismantle other regulatory hurdles in the auto industry, especially restraints on the sale of pickups, used vehicles and aftermarket parts and services. Pictured: Yang Jian is managing editor of Automotive News China. ]]>http://www.autonewschina.com/en/articles.asp?id=18750
BMW's ambitions to
establish China as a hub for exporting electric vehicles are in
limbo because of uncertainty over potential trade tariffs
between China and the United States, company executives said.]]>http://www.autonewschina.com/en/articles.asp?id=18759
Dongfeng Peugeot Citroen Automobile Co., a 50-50 joint venture between Dongfeng Motor Group Co. and PSA Peugeot Citroen, lost nearly 3.7 billion yuan ($552 million) in 2018 because of an extended sales slump. That was about eight times the loss of 465 million yuan the partnership incurred in 2017, according to Dongfeng, a state-owned Chinese automaker. ]]>http://www.autonewschina.com/en/articles.asp?id=18757
GENEVA -- Chinese automaker and EV specialist Beijing Auto will enter Europe soon with its electric Arcfox brand, the company¡¯s chairman said. The automaker, which has joint ventures in China with Daimler and Hyundai, will first sell an electric supercar and is investigating following that with an electric crossover, BAIC Chairman Xu Heyi told journalists on the sidelines of the Geneva auto show. ]]>http://www.autonewschina.com/en/articles.asp?id=18753
Volvo Cars said Monday it will introduce a 180 kilometers per hour (112 mph) speed limiter on all new vehicles as the Chinese-owned automaker seeks to burnish its safety credentials and meet a pledge to eliminate passenger fatalities by 2020.]]>http://www.autonewschina.com/en/articles.asp?id=18738
Contemporary Amperex Technology, one of China's largest suppliers of battery cells, is considering expanding its German plant to make it one of the world¡¯s largest, amid higher expected demand for electric vehicles. CATL is discussing whether to nearly double the size of its upcoming factory in Erfurt to provide 100 gigawatt-hours of cell supply.]]>http://www.autonewschina.com/en/articles.asp?id=18737
China¡¯s largest ride-hailing service provider Didi Chuxing incorporated a subsidiary in Shanghai to develop technologies for connected and automated vehicles. The subsidiary, with registered capital of 10 million yuan ($1.5 million), is in Shanghai¡¯s suburban Jiading district, according to the National Enterprise Credit Information Publicity System, a Beijing website that tracks the credit status of China businesses.]]>http://www.autonewschina.com/en/articles.asp?id=18735
China¡¯s worst car-market slump in a generation is forcing manufacturers and dealers to resort to generous discounts and loan offers to lure buyers, as the slowdown hits automakers¡¯ profits. Incentives and reductions equivalent to more than 10 percent of the sticker price are now common and interest-free loan offers abound as carmakers and dealerships struggle to bring buyers back to showrooms, especially outside China¡¯s cities.]]>http://www.autonewschina.com/en/articles.asp?id=18739
The U.S. and China are close to a trade deal that could lift most or all U.S. tariffs as long as Beijing follows through on pledges ranging from better protecting intellectual-property rights to buying a significant amount of American products, two people familiar with the discussions said.]]>http://www.autonewschina.com/en/articles.asp?id=18740
Qingdao TGood Electric Co., China¡¯s largest developer and operator of battery charging sites for electric vehicles, said its battery charging unit is now breaking even. The volume of electricity supplied through its EV charging centers achieved a compound annual growth rate of 200 percent since 2016, the Shenzhen-listed company said. ]]>http://www.autonewschina.com/en/articles.asp?id=18742
Volkswagen Group¡¯s former design chief, Walter de Silva, has styled the ECF crossover concept for Chinese electric vehicle brand Arcfox. De Silva is to unveil the concept Tuesday at the Geneva auto show.]]>http://www.autonewschina.com/en/articles.asp?id=18736
FRANKFURT -- Volkswagen struck a deal with Microsoft to cooperate on cloud computing in China and the United States, as part of a drive to offer connected vehicle services across the globe.

]]>http://www.autonewschina.com/en/articles.asp?id=18720
SHANGHAI -- Volkswagen Group, after contemplating the move for years, is ready to launch an entry-level brand in China. While the timing of the Jetta brand¡¯s debut is perfect for VW, it couldn¡¯t be worse for Chinese carmakers. Pictured: Yang Jian is managing editor of Automotive News China. ]]>http://www.autonewschina.com/en/articles.asp?id=18721
Ford Motor Co.'s joint venture with China Changan Automobile Group won¡¯t renew contracts at some staffing agencies that supply the company with workers, as carmakers struggle to cope with slumping sales in China. The New York Times reported that the Ford-Changan joint venture has "quietly begun" dismissing thousands of its 20,000 workers in the world's second-largest economy.]]>http://www.autonewschina.com/en/articles.asp?id=18726
Honda Motor Co. delivered its first locally built electric vehicle to the car-sharing fleet operated by its joint venture with Chinese software developer Neusoft Corp. Honda said the Everus VE-1 compact crossover, produced at Guangqi Honda, has a range of 340 kilometers (211 miles) on one charge. ]]>http://www.autonewschina.com/en/articles.asp?id=18724
Volkswagen is launching an
entry-level brand for China -- Jetta -- that targets younger, less affluent
families who would otherwise have bought their first vehicle from a
domestic competitor. VW sells a Jetta compact sedan in the U.S. but it is marketed as the Sagitar and Santana in
China.]]>http://www.autonewschina.com/en/articles.asp?id=18719
Hyundai Motor Co., which is reeling from tumbling sales in China, is considering cutting capacity at its factories in its biggest market, CEO Lee Won-hee told analysts and investors this week. Lee made the comments at a meeting with analysts and investors, Reuters reported, citing people who attended the event.]]>http://www.autonewschina.com/en/articles.asp?id=18722
]]>http://www.autonewschina.com/en/articles.asp?id=18727
BYD Co., China¡¯s largest electrified vehicle maker, said net profit fell 31 percent in 2018 even though revenue jumped 23 percent. Net profit fell short of 2.8 billion yuan ($417.7 million) while revenue topped 130 billion yuan, according to preliminary financial results BYD released.]]>http://www.autonewschina.com/en/articles.asp?id=18725
Polestar, Volvo's electrified vehicle upstart, is ready to take on the Tesla Model 3. The Polestar 2, introduced ahead of its formal debut at the Geneva auto show, will be powered by two electric motors and a 78 kilowatt-hour battery, delivering 275 miles of range. With Polestar, Volvo is elbowing into an increasingly crowded EV market,
once dominated by Nissan and Tesla. ]]>http://www.autonewschina.com/en/articles.asp?id=18723
PSA Peugeot Citroen has tapped the CEO of its Italian unit, Massimo Roserba, to be president of Dongfeng Peugeot Citroen Automobile, its main joint venture in China. The appointment became effective this month, PSA said. ]]>http://www.autonewschina.com/en/articles.asp?id=18707